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Veterinary Market Analysis, Growth, Upcoming Trends and Forecast to 2028
Veterinary Market
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In Veterinary service, various industry activities include operating animal hospitals, animal disease testing, livestock inspecting, testing, performing animal vaccinations, operating veterinary clinics, operating veterinary testing laboratories, and providing veterinary livestock services. Growth in the global veterinary industry is mainly because of increased pet ownership, awareness of animal health issues, demand for animal-related products, and the availability of advanced surgical and diagnostic procedures. There are various technologies involved in veterinary medicine.
Competitors Analysis:
Merck Animal Health
Ceva Sante Animale
Vetoquinol S.A.
Zoetis
Boehringer Ingelheim GmbH
Elanco
Nutreco N.V.
Virbac
Kindred Biosciences, Inc.
Biogenesis Bago
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DYNAMICS:
Drivers
- Rise in the incidences of zoonotic and chronic diseases.
- Growing numbers of pet owners.
- Growing meat consumption rate.
- Technological advancements
Restraints:
- The cost of several diagnostic imaging equipment and veterinary medicines is the major restraining factor for this market.
IMPACT OF COVID-19 ON VETERINARY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
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The Insight Partners is a one top industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Manufacturing and Construction, Technology, Chemicals and Materials.
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